Working in full swing, GST Refunds worth Rs 54,378 crore cleared till July 31
New Delhi, August 2: With a continued focus on liquidating the pending GST refunds, the Central Board of Indirect Taxes and Customs (CBIC) has successfully concluded the Third Refund Fortnight from 16th July 2018 to 31st July 2018. Processing the GST Refund, the government processed around Rs 54,378 crore during its third refund fortnight.
It was the third such refund fortnight to clear Goods and Services Tax (GST) refunds after similar drives earlier held in March and June. "Till July 31, the total GST refunds disposed of by the Centre and the states are to the tune of Rs 54,378 crore," a statement said.
Completing the process in full swing, it was for the first time that the officers had of CBIC reached-out to doorsteps of the exporters for sanctioning of refunds by the way of GST Refund Help Desks. The GST Refund Help Desks were established at 11 locations in the offices of FIEO, EEPC, and AEPC for the ease of exporters. These Help Desks were operated by the officers of CBIC who were tasked with assisting the exporters in resolving issues related to refunds.
These Help Desks provided an extension of CBIC offices, thus eliminating any need to go to Customs office for submission of documents. During the period, all field formations of CBIC and the States, once again worked very hard to provide all assistance to the exporters to ensure quick disposal of their refund claims.
There were various measures like the Special Refund Cells at CBIC offices, Exporter Awareness Campaigns etc., a unique facility was provided by CBIC.
It has been noted that by the end of 31st July, 2018, the total amount of IGST refund claims disposed by CBIC is Rs 29,829 crore taking the disposal rate to 93%. During the third Refund Fortnight, the IGST refunds of amount Rs 3,391 crore have been sanctioned by CBIC.
The remaining GST refunds pending with CBIC will continue to be processed expeditiously. The finance department has requested the exporters to ensure that the correct procedure of filing returns, giving accurate information in Shipping Bill and submitting RFD01A Application Forms to the jurisdictional formations are followed for quick disbursal of their GST refund claims.